Main menu

Post navigation

The World has changed and Big Business hasn’t kept up

Adapt or Die. You may have heard this phrase before. It’s never more apparent than today. As a startup or small business you need to value your ability to adapt. That’s what keeps the ‘big guys’ on their toes. You have the ability to adjust on the fly where as the big businesses don’t. They’re mired in red tape, and meetings on top of meetings, and middle managers who are more concerned about keeping their jobs then about taking a risk to move the company forward.

The world of business is moving so quickly that most can’t keep up. Twenty years ago you went to school, got a decent job, worked your way up, and stayed with that company for many, many years…maybe your whole life. Now, on average you stay at the same job for 4-years. That’s nothing. There are so many options for you and I that it’s very easy to jump ship. Or say screw the corporate world, and start your own business. It’s not the easiest thing to do, but it can be done. The tools are out there, and you no longer need a fancy degree from a prestigious college to get to where you want to be.

Here’s where Big Business is failing

Hiring – take a look at job postings, especially those at larger companies. They want certain degrees, knowledge, etc…even for more entry level positions. However, the world has changed where the new wave of job seekers aren’t looking to get a MBA. They’re sticking with the arts or something more liberal. In essence, those large companies who are seeking new employees are effectively limiting their scope to a small percentage of the population. When in fact, they could have hundreds of candidates they don’t even look at who are equally as qualified or willing to learn, but they don’t have that pricey piece of paper.

Benefits – my wife and I always joke that we missed the ‘Golden Era’ of business. Large expense accounts, business class flights, great benefits, etc… Before I left my corporate job within five years, my benefits were slashed by close to 30%. Did profits and revenues go down by 30%? No, but large corporations thought they could do away with benefits. This is the exact opposite of what most new job seekers are expecting. In the age of work life balance, and caring for one another – it’s a huge slap in the face to those looking for a corporate job right out of school.

Transparency – before it used to be put your head down and get your job done. Now, with all this access to information – you can’t hide behind a pleasant email from the CEO (or CEO’s assistant). How many times have you heard of something positive or negative about your company BEFORE anything was said from within the organization. Nowadays you get updates straight to your phone. You didn’t have to wait for the news at night, the newspaper the next day or to go searching for it on the radio – it comes directly to you. New job seekers, and employees expect the truth – whether it’s good or bad. Or at least a version that’s close enough to the truth. BS will KILL YOU.

Technology – you only have to look in front of you to see how this world has changed. Whether you’re reading this on your computer, tablet or phone, you know exactly what I mean. Everything is changing quickly, and large corporations are mired in hierarchies, red tape, and endless indecisive managers. Something that may take one day in the startup world could take months or even years in larger corporations. Even with technology larger corporations have been slow to adapt. Those who aren’t looking forward – are in big, big trouble.

The above isn’t solely my opinion. I read / hear about these situations regularly. Recently, I spoke with a head hunter, and she was saying how most of the 20 – 30 year-old job seekers are looking for those companies that are willing to adapt. That are willing to change the status quo. Unfortunately for her, most of the larger businesses aren’t quite ready to adapt. Hell, I know of one company in the financial sector who, up until recently, didn’t have any digital / social footprint. Someone who was including tech stocks in their funds, didn’t have any idea how to use these platforms themselves. Thankfully, a bunch of younger fund managers urged the President to dabble in these areas. The blue-hairs are going to die off soon, and change is coming…FAST!